Aquest Systems Corp.
and the Gores Group, LLC
are jointly releasing the following letter, which describes their proposal to explore the acquisition
of Asyst Technologies, Inc. (Nasdaq: ASYT) at a significant premium to the company's current share price. Aquest and Gores are releasing the letter so that Asyst's shareholders are aware of the proposal and are in a position to evaluate the potential benefits of such a transaction.
Aquest develops next-generation automation tec
hnologies for the worldwide semiconductor industry. Aquest was founded by Dr. Mihir Parikh, who was also the founder of Asyst and its CEO from inception in 1984 until 2002. Aquest's private investors include Menlo Ventures, one of the technology industry's most successful and respected venture capital firms, and also the founding investor of Asyst. Gores is a private equity firm focused on acquiring controlling interests in mature and growing businesses that can benefit from the firm's operating experience and flexible capital base.